Another round of opinions from the ivory-tower crew:
“You can sort of think of it as we overshot on the way down and this is sort of a correction back to something more normal,” adds Mark Fleming, chief economist of CoreLogic, an Irvine, Calif.-based real estate data firm.
Overshot on the way down?? Seriously?!? We never even reverted to mean due to massive intervention. Sheesh.
Interest rate increases, I think, are affecting price increases more than that panel thinks. Also no where in that panel did they discuss the impact of higher taxes and regulation compliance, espectially on October 1st of this year.